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. heather: good thing. all right so growing concerns for the future of u.s. cities as stoc stockton, california heads to bankruptcy court. they racked up a billion dollars in debt in two years. we hear about other places in similar situation. some are wondering whether other u.s. cities will soon follow. matt mccall is president of financial group l. l. c. and countdown to the closing bell on fox network. california's 13th largest city officially heading to bankruptcy court today. a city in detroit trying to avoid the same thing, the largest city ever to be put under state control. if i live in a small town say in mississippi, i live in a farming community out in midwest or here in the big city of new york city, why do i care, how does it effect me, liz? >> it is interesting if you are part of a municipality that is in debt. when it comes to the clip that happened here situation probably unlikely unless your city finances are in such arrears and a dire state that you too should be watching. everyone can learn a lesson with what is happening in stockton, california today. heather: ta
:14. this morning, stockton could become the largest city in the u.s. to go bankrupt, but not everyone is happy with the financial decisions. our router is live in -- our reporter is live in sacramento where the hearing is set to get underway in just a couple of hours. good morning. >> reporter: good morning. the bankruptcy trial for stockton gets underway in two hours at the federal courthouse in sacramento. officials are very nervous because the judge is only giving them a small amount of time to present their case. city officials admitted they didn't manage their money properly when times were good. they akum dated about a billion dollars in debt. stockton will continue to negotiate with creditors. that trial gets underway at 9:30. city officials are confident they can do this. back to you. >>> britain's prince harry will visit -- visit the united states in may. he made headlines after being caught naked traveling around. he will be traveling from may 9th until the 15th. one of his scheduled stops includes a visit to new jersey to tour the damage from
of minutes. >>> 7:14. this morning, stockton could become the largest city in the u.s. to go bankrupt, but not everyone is happy with the financial decisions. our router is live in -- our reporter is live in sacramento where the hearing is set to get underway in just a couple of hours. good morning. >> reporter: good morning. the bankruptcy trial for stockton gets underway in two hours at the federal courthouse in sacramento. officials are very nervous because the judge is only giving them a small amount of time to present their case. city officials admitted they didn't manage their money properly when times were good. they akum dated about a billion dollars in debt. stockton will continue to negotiate with creditors. that trial gets underway at 9:30. city officials are confident they can do this. back to you. >>> britain's prince harry will visit -- visit the united states in may. he made headlines after being caught naked traveling around. he will be traveling from may 9th until the 15th. one of his scheduled stops includes a visit to new jersey to tour the damage from superstorm s
. a historic financial decision for stockton possibly coming today. the reason some say the city does not deserve the right to file for bankruptcy. >>> we're live in san jose where police are searching for a man they say brutally stabbed and killed his exgirlfriend. we have just spoken to the victim's family. we'll tell you what they have to say and the latest on the police investigation. >>> a lot of high and mid level clouds. it will be cooler today. 50nd and 60s. partly sunny skies. a few low 70s. >>> welcome back. good morning, to you. here's a quick look at some of the top stories we are following for you right now at 6:46. police in hayward arrested three people over night after this high speed chase into oakland. the driver was wanted for reckless driving. police say the three may be involved in a drive by shooting yesterday afternoon that anywhered an innocent bystanders. >>> the coast guard culled off a search for a man who disappeared while playing in the surf near half-moon bay. 22-year-old carlos javier lopez was playing soccer with friends when he vanished into the rough
decision for stockton possibly coming today. the reason some say the city does not deserve the right to file for bankruptcy. >>> we're live in san jose where police are searching for a man they say brutally stabbed and killed his exgirlfriend. we have just spoken to the victim's family. we'll tell you what they have to say and the latest on the police investigation. >>> a lot of high and mid level clouds. it will be cooler today. 50nd and 60s. partly sunny skies. a few low 70s. >>> welcome back. good morning, to you. here's a quick look at some of the top stories we are following for you right now at 6:46. police in hayward arrested three people over night after this high speed chase into oakland. the driver was wanted for reckless driving. police say the three may be involved in a drive by shooting yesterday afternoon that anywhered an innocent bystanders. >>> the coast guard culled off a search for a man who disappeared while playing in the surf near half-moon bay. 22-year-old carlos javier lopez was playing soccer with friends when he vanish
idea like tracie or stockton would be a better place to have veteran housing but why not here. >> the plan for veteran housing is a long way from becoming a reality. heaton must get to the owners of the land, convince them to sell it and the city to build housing. >>> this will break your heart. a few months after he beat lymphoma, a 6-year-old boy is fighting for his life again against leukemia. he needs a bone marrow transplant to save his life. the leukemia is aggressive and chemotherapy will not cure it. the family has been told there are not many people of hispanic descent in the current database. finding a match will be extremely challenging. eduardo's classmates and teachers are spreading the word about finding a bone marrow match. the family hopes their son's story will inspire others to answer the call. >> i'm really convinced we can find it and save him and do whatever we need to do to convince the people to do the test. >> a bone marrow drive for eduardo will happen at river glen school next friday march 29th. it will start at 2:30 in the afternoon and end at 7:00.
, stockton is poised to become the most populous in the nation to enter bankruptcy when its trial begins tomorrow in federal court. creditors who lent stockton money are challenging its chapter 9 bankruptcy petition, but most observers say the city of 300,000 will be successful. its largest creditors are bond insurers who helped the city refinance pension debt. >> we are seeing changes with the wind coming off the ocean and increase with clouds.hall signs of changes. even wet weather. temperatures are cooling to 50 degrees in san francisco fairfield, brentwood. low clouds coming off the ocean. tomorrow you will see gray skies but as we go for the afternoon some high clouds with clouds and gusting winds will be expected. and on the in income if chance for rainfall. new york's coney island is now open for business. today senator chuck schumer the start of the park's season. coney island opens the week before easter every year. but this year a lot of work had to be done to the electrical system that was damaged during superstorm sandy. officials say that today's celebrations serve as a remi
and is headed to stockton and interstate 5. we have some moving through the higher elevations of marin county and the sonoma county and this is headed over to petaluma and novato and san rafael, your wear will get wet again in the next 20 minutes. you can see the rain coming from 680, on martinez and headed out four from concord and bay point but not so heavy as it was before. and drifts are developing around san mateo south of san bruno and belmont and redwood city and all the way to palo alto, you could get pore light rain the next half hour. we are going to be wet at times around the bay and it will move to the south at noon and the drying will begin in the afternoon. the best chance of rain had morning is moving into the east bay valley after the morning commute and you will be fairly dry headed through the evening hour and the north bay coast is getting the rain this morning and it will be steady as you head to noon and in the afternoon, you will also see it tapering. >> we have serious situation in the santa rosa area and ongoing all morning with slick roads the problem. south 101 beyon
and is going to help them win elections. >> i don't remember if you remember the stockton, he brought ted nugent to the -- >> yeah. >> krystal, he tweeted out, the best thing about the earth is if you put holes in it, oil and gas come out. how is that for kinder and gentler? he actually tweeted this. >> and that's part of the problem. if you have any concern about the environment, if if you have any concern about climate change, are you going to look to someone that's a party that's saying things like that? that's not offering any solutions and i think that's part of the problem. cap and trade, which has been thoroughly demonized, that was a conservative idea. that's a market-based approach to dealing with climate change. democrats have adopted some of these goods, market-based things that they used to do. if they are going to be an effective party and opposition, they have to offer nuance responses. it's worked for them a while but now that well has run dry, so to speak. >> and i think joan made a very good point. usually they take an autopsy after you've been pronounced dead. they don't
people they have to answer to our corporations. david stockton outlined a strategy in the 1980's. evenight wing noted that through republican presidents like eisenhower and nixon, you could not cut popular programs like social security or medicare. and government grew at a slower rate. they can love with a strategy of starving the bees. -- they came up with a strategy of starving. the starving -- they huge deficits sta up with a strategy of rving the beast. creating huge deficits. republicans deny care about deficit at all -- do not care about deficits at all. what they do care about is cutting government. to quote grover norquist, it can b t in a bath tu [indiscernible] they call it something else but it would destroy both programs. their goal is to destroy government. corporations paid on average 40% of profits for taxes. arey large corporations 12ing about fall% -- about %. they ryan budget would lower that further. millionaires with a $200,000 tax cut -- would get a 200,000 todollar tax curt. t. host: a tweet -- is true.at if you looked at the budget, we have not had in the g
Search Results 0 to 9 of about 10